Westfield Group on track to meet prospectus forecasts (AU)

Westfield Group Ltd´s chairman Frank Lowy told the property group´s annual general meeting that the group remains on track to meet prospectus forecasts made when the group was formed earlier this year out the merger of Westfield Holdings Ltd and two associated property trusts.

Lowy said the group, which is the world´s largest shopping center owner, is in good shape.

'I would like to confirm that we are on track to deliver the distributions of 1.03 aud per unit for the period to June 2005 and 1.10 aud for the period to June 2006, which were forecast as part of the merger of the Westfield Group,' Lowy said.

Lowy said Westfield, capitalized at about 33 bln aud, is benefiting from strong retail sales, with its 126 shopping centers experiencing high occupancy levels.

Source: Freeman

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